NAIROBI, Kenya Jun 18 – The Court of Appeal is set to deliver its ruling next Friday in a case filed by the State seeking to overturn conservatory orders issued by the High Court that temporarily halted the government’s planned sale of its Safaricom stake valued at approximately Sh205 billion.
The government is challenging the High Court decision that barred the transaction, arguing that the order has disrupted its privatisation agenda and delayed a key fiscal strategy involving divestiture of state-owned shares.
The disputed transaction involves the government’s stake in Safaricom, one of the country’s most profitable listed firms, and forms part of broader efforts to unlock public assets for revenue generation and budget support.
The High Court had earlier issued conservatory orders preventing the sale from proceeding, pending determination of a petition challenging the legality and transparency of the proposed divestiture.
In its appeal, the State is seeking to have the orders lifted, arguing that the injunction has stalled economic plans and interfered with government policy implementation.
The case has drawn significant public interest due to the size of the transaction and its potential impact on public finances and capital markets.
The Court of Appeal’s decision on Friday is expected to determine whether the government can proceed with the Sh205 billion transaction or remain restrained pending the full hearing of the matter.
